USD/CHF: The downside prevails

USDCHF


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Pivot (invalidation): 0.9125

Our preference
Short positions below 0.9125 with targets at 0.9085 & 0.9070 in extension.

Alternative scenario
Above 0.9125 look for further upside with 0.9140 & 0.9155 as targets.

Comment
The RSI is bearish and calls for further downside.

USD/CAD: Under pressure

USDCAD

Pivot (invalidation): 1.3100

Our preference
Short positions below 1.3100 with targets at 1.3050 & 1.3030 in extension.

Alternative scenario
Above 1.3100 look for further upside with 1.3125 & 1.3145 as targets.

Comment
As Long as the resistance at 1.3100 is not surpassed, the risk of the break below 1.3050 remains high.

AUD/USD: Rebound expected

AUDUSD

Pivot (invalidation): 0.7265

Our preference
Long positions above 0.7265 with targets at 0.7310 & 0.7330 in extension.

Alternative scenario
Below 0.7265 look for further downside with 0.7250 & 0.7235 as targets.

Comment
The RSI calls for a rebound.

USD/TRY: Watch 7.4550

USDTRY

Pivot (invalidation): 7.6200

Our preference
Short positions below 7.6200 with targets at 7.4960 & 7.4550 in extension.

Alternative scenario
Above 7.6200 look for further upside with 7.6680 & 7.7220 as targets.

Comment
A break below 7.4960 would trigger a drop towards 7.4550.

This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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